https://www.taxtmi.com/caselaws?id=754821 The ITAT Hyderabad rejected three entities (Eclerx Services Limited, Infosys BPO Limited, and TCS E-Serve Limited) as comparables for transfer pricing adjustment, following consistent exclusions in previous assessment years due to functional dissimilarity and turnover differences. The tribunal allowed R Systems International Limited as comparable despite different accounting year, directing extrapolation of results. Two other entities (ACE BPO Services and Crystal Voxx) were rejected due to insufficient clarification. The tribunal disallowed negative working capital adjustment and set interest on outstanding receivables at LIBOR+200 points for determining arm's length price. The assessee's appeal was partly allowed. en-us Fri, 28 Jun 2024 00:00:00 +0530 Mon, 01 Jul 2024 08:32:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754821 The ITAT Hyderabad rejected three entities (Eclerx Services Limited, Infosys BPO Limited, and TCS E-Serve Limited) as comparables for transfer pricing adjustment, following consistent exclusions in previous assessment years due to functional dissimilarity and turnover differences. The tribunal allowed R Systems International Limited as comparable despite different accounting year, directing extrapolation of results. Two other entities (ACE BPO Services and Crystal Voxx) were rejected due to insufficient clarification. The tribunal disallowed negative working capital adjustment and set interest on outstanding receivables at LIBOR+200 points for determining arm's length price. The assessee's appeal was partly allowed. Case-Laws Income Tax Fri, 28 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754821